Columbian subsidiary of Northfield Minerals Inc. announces acquisition of options on the El Diamante and Concordia mining concessions.

TORONTO--(BUSINESS WIRE)--Feb. 14, 1995--Northfield Minerals Inc. is pleased to announce that its wholly-owned Colombian subsidiary, Barro Blanco Ltd., has acquired options on the El Diamante and Concordia mining concessions covering 44.7 and 99.9 hectares, respectively.

The Company has the right to acquire a 100 percent interest in the El Diamante concession by making total payments of US $250,000 over three years and has the right to acquire a 90 percent interest in the Concordia concessions by making total payments of US $300,000 over three years. The properties are in the State of Narino, about 125 km west of Pasto, in the Andean Mountains of southern Colombia.

Barro Blanco Ltd. has also applied for exploration concessions totaling 50,000 hectares (500 sq. km.) in the El Diamante - Concordia belt. These concessions cover 25 km of strike length along a major gold mineralized belt that is associated with faults and shear zones in the Romeral Tectonic Belt. This area is underlain by granodioritic intrusions and andesitic volcanic rocks of Cretaceous age. Gold mineralization occurs with sulphides in veins, stockworks, and silicified zones in major north - northwest trending structures. There is also excellent potential for outlining heap - leachable gold deposits in the oxidized cap rocks. Gold has been produced from small mines in this area for more than four centuries.

The El Diamante Mine has been producing gold for 30 years, at an average rate of 1 ton of ore per day at a grade of about 0.5 ounces of gold per ton. Limited diamond drilling in the early 1980's by the Japanese International Co-operation Agency outlined a resource of 527,000 tonnes grading 0.17 ounces of gold per ton and 2.65 ounces of silver per ton. The mineralized zone in which mining is currently being carried out is more than 20 metres wide and extends for a strike length of at least 600 metres. It is open in both directions along strike, and at depth.

Northfield believes that Colombia presents an excellent opportunity for junior mining companies. It has a long tradition of private property rights, a sizeable middle class, excellent infrastructure, and a stable, two party government. In addition, Colombia is the only Latin American country that has never defaulted on its debt and it is one of only two Latin American countries with AA-rated government bonds.

Northfield's Colombian personnel are currently compiling data on the concessions in order to plan a systematic exploration program, expected to begin in the second quarter of this year.

CONTACT: Northfield Minerals, Toronto

Thomas G. Larsen, 416/360-8006; 800/360-8006

or Dale M. Hendrick, 416/603-8630